The conversation was the culmination of an underlying theme throughout the interview: the shift in media's business model. Terrestrial radio - and in fact, almost all of mainstream media - is suffering because of an advertising model that never focused on creating a return on investment.

"I think that there is too much [advertising] inventory," Karmazin told Rose earlier in the interview. "I think that the Internet has changed... the world. And what's happened is that there is far more supply than there is demand."

But since Sirius XM Radio isn't dependent on advertising exclusively as it's revenue stream, it doesn't suffer as much as its terrestrial radio cousins.

"And that's why subscription, subscription, subscription... I used to love the advertising business until Google ruined my day," said Karmazin "Google comes along and this is the new way of doing it, and I'm now in the subscription business."